Old Antique Store prepared the following budget information for the month of May Sales are budgeted at $385.000 All sales are on account and a provision for bad debts is made for each months at three percent of sales for the month Inventory was 5103,000 on April 30; an inventory Increase of $17.000 is planned for May 31 All inventory is marked to sell at cost plus 40 percent Estimated cash disbursements for selling and administrative expenses for the month are $67000 Depreciation for May is projected at 57900 . Old Antique's budgeted gross profit for Mays Multiple Choice O $110,000. O $154,000. O $221,900. O $292,000 $275,000